Going back to work after retirement

 In Blogs

Retirement is embraced differently according to circumstances. Sometimes it is a time of life that is feared because of loss of income and interaction with colleagues, as well as change in daily work structure leading to boredom and loneliness. Others, who have planned their retirement well with wise investments, may see retirement as a time to kick back and do as they please, engaging in pastimes they have put off for many years.

Returning to work in either of these scenarios means people are approaching post-retirement work from very different perspectives. However, whether you are returning simply to have something to keep you busy, or you are needing the extra money, working after retirement has many advantages. And planning for that should be an intrinsic part of your financial plan.

  • People can experience a loss of identity upon retirement. Getting back to a routine presents purpose and responsibility, a sense of achievement and satisfaction.
  • Extra money whether just for living purposes or because you have a plan in mind, such as a new car or an overseas trip, will always prove useful – and is strongly part of feelings of being worthwhile.
  • It can be simply about friendship. Getting back to work, no matter where or what kind of employment, means you are engaging with others, and therefore engendering feelings of value, connectiveness and friendship.
  • Sometimes the work taken up is something you may have had in mind for many years. A passion for carpentry or painting or teaching, could see you immersed in a whole new life by simply taking steps to become involved in a lifelong interest.
  • Probably top of the list of benefits is that your health will improve as you are busily engaged in work. Returning to work after retirement has been shown to lower the incidence of various chronic illnesses, and slow cognitive decline. Not to mention a reduction in the risk of depression and other problems associated with loneliness.
  • Many people enjoy using their experience to assist others. You can easily use your knowledge in consulting or freelance work, or any similar alternative work that follows on from your profession, and which gives you opportunity to learn further for yourself.
  • There may have been some advancements in your industry, and you would do well to catch up. New learning at an advanced age is always benefits the brain.

Build a plan and keep it on the boil

Reskilling and upskilling. Going back to work – whether its work you’re experienced in, or something entirely new, will require some catch-up study one way or another. Things move at a tremendous pace in the modern working world, and so if you want to contribute successfully you’ll need to brush up on the latest technology and strategies. Online learning via a variety of channels offers a particularly valuable and convenient way for older people to get back on track with their old career, or with a new one. Online programmes present flexible alternatives and generally allow you to proceed at your own pace.

The value of experience never dies. Whatever you are thinking about doing, or the aspirations you might have, remember that your experience is invaluable. You are knowledgeable in your field, can handle a variety of situations and types of people, have managerial experience with long-learnt and practised interpersonal skills. Three to four decades of work is a phenomenal asset that you should put to use. All of this makes you a valued contributor, picking up some fresh or new skills can only add to an impressive portfolio.

Finding work might be a challenge – but you need to work at it. The internet presents many opportunities. Networking is one of the most powerful tools to find a new work opportunities no matter your age. Let everyone in your circle know you are available for a new challenge, including ex-colleagues. Keep up engagement with people – it’s amazing how people like to help. Industry events and professional social networks are invaluable.

Physical activity and social interaction are important for keeping healthy and the mind sharp. When going back into the work force, these aspects are important. Often younger people assume an older person to be unable to keep up, but just a few exercises a day and an active, interested mind will see you on a par with anything the youngsters can offer, and more so!

From starting your own business to exploring an array of working possibilities…it’s possible that retirement will at last let you find your passion, and the world truly can become your oyster!

Empfin Solutions – the team that keeps your team happy

We’re an Old Mutual franchise with our primary focus on the three main areas of concern in everybody’s financial planning:

  • Your Company Benefits – advising on, and servicing umbrella pension and provident funds.
  • Your Personal Financial Planning and Provision – Estate planning, Wealth Creation and Retirement Planning.
  • Your Assets – motor and household insurance.

Always striving to be a trusted partner in facilitating financial solutions for organisations and individuals, our dedicated team of fully accredited, experienced professionals have a passion for satisfying customer needs and providing a truly client-centric service.

Find out how you can benefit at: www.empfinsolutions.co.za

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